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Athabasca Oil Corp T.ATH

Alternate Symbol(s):  ATHOF

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.


TSX:ATH - Post by User

Bullboard Posts
Post by pppon May 17, 2019 12:07pm
176 Views
Post# 29755833

How stupid is this. The Whole world is laughing at us.

How stupid is this. The Whole world is laughing at us.

The oil patch welcomed good news (or at least dodged bad news) as the federal government's proposed B.C. oil tanker ban was defeated by the Senate's transportation committee. The controversial proposal, Bill C-48, would have banned oil tanker traffic along a significant portion of the West Coast -- but really only Canadian oil tanker traffic, as the bill cannot, under international law, ban a vessel from passage in Canadian waters. In effect, tankers carrying Canadian oil would have been banned, but not foreign vessels carrying the exact same product. Tankers have been chugging along the West Coast for decades and there is no other part of Canada's sizable coastline that is under such a ban. Bill C-48 would have almost exclusively targeted Western Canada's energy sector and hindered the export of Canadian petroleum products to international markets.

Now, happily, the Senate committee has rejected the bill by way of a six-against-six tie vote (a tie means that a proposal fails). The Canadian Association of Petroleum Producers (CAPP) took heart from the rejection and publicly thanked the committee this morning for deciding to "spare Canada serious, self-inflicted social and economic damage." Meanwhile, Alberta Premier Jason Kenney declared the defeat "a victory for common sense and economic growth." The crisis is not quite averted yet: The decision whether to officially kill the bill still lies with Ottawa.

 
Bullboard Posts